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    New Eden Valley Sports Partnership Manager wants to get as many youngsters active as possible

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    Conservation efforts at Lowther paying off as spring arrives

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    10 Fix the Fells rangers appointed after more than 1,000 people apply

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    Community in shock as Dufton farmer Hannah Brown dies aged 26

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Cumberland and Westmorland Herald
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    History being made as COVID-19 vaccines rolled out

    Two-thirds of eligible population receive first coronavirus vaccine in Cumbria

    20 jobs at risk at the Lake District National Park Authority

    Lake District National Park Authority aims to become net zero by 2025

    Penrith traders react to first day of shopping post-lockdown

    Shoppers splurge in Eden as lockdown eases

    Brough Community Primary School’s new play area for pupils

    Brough Community Primary School’s new play area for pupils

    Woolfest to stay online for 2021

    Woolfest to stay online for 2021

    Plans mooted to ban horses and horse-drawn vehicles from Appleby’s Sands

    Appleby Horse Fair set to go ahead in August

    New bus service launches for Kirkby Stephen

    New bus service launches for Kirkby Stephen

    Coronavirus

    Seven more coronavirus cases diagnosed in Cumbria

    Penrith makes top 10 of online holiday searches

    Penrith makes top 10 of online holiday searches

  • Sport
    ‘If football no longer connects with people, then we cease to exist,’ Cumberland FA reacts to European Super League collapse

    ‘If football no longer connects with people, then we cease to exist,’ Cumberland FA reacts to European Super League collapse

    Cumbria Classic Weekend to return this year

    Cumbria Classic Weekend to return this year

    Grand National could be on the cards after big race win at 40-1

    Grand National: Takingrisks pulled up

    Grand National chance for Greystoke-trained Takingrisks

    Grand National chance for Greystoke-trained Takingrisks

    1,000 tee times at Penrith Golf Club

    1,000 tee times at Penrith Golf Club

    New Eden Valley Sports Partnership Manager wants to get as many youngsters active as possible

    New Eden Valley Sports Partnership Manager wants to get as many youngsters active as possible

    Eden Runners set to stride out together again

    Eden Runners set to stride out together again

    Four women set for 10 in 10 challenge to raise funds for MS Society

    Four women set for 10 in 10 challenge to raise funds for MS Society

    Support for Chris Lewis ‘humbling’ as fund for Patterdale mountain rescue volunteer hits £730,000

    Penrith Rugby Club to hold event in aid of Patterdale Mountain Rescue’s Chris Lewis

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    Spring pedigree bull sales return to the ring

    Spring pedigree bull sales return to the ring

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    Countryfile debut for 14-year-old Katie

    Countryfile debut for 14-year-old Katie

    Tim Farron re-elected as chairman of hill farming group

    Tim Farron re-elected as chairman of hill farming group

    Conservation efforts at Lowther paying off as spring arrives

    Conservation efforts at Lowther paying off as spring arrives

    10 Fix the Fells rangers appointed after more than 1,000 people apply

    10 Fix the Fells rangers appointed after more than 1,000 people apply

    Community in shock as Dufton farmer Hannah Brown dies aged 26

    Community in shock as Dufton farmer Hannah Brown dies aged 26

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    Project launches to bring sheep scab under control in North West

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Home News

Haweswater Hotel ‘saved from administration’ thanks to coronavirus loan scheme

by CWH
20 August 2020
in News
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An Eden hotel boss says cash from a Government-backed coronavirus loan scheme saved it from going into administration.

Stephen O’Sullivan, director of the Haweswater Hotel, near Penrith, said money from the Coronavirus Business Interruption Loan Scheme (CBILS) has kept the business buoyant.

The enforced shutdown due to COVID-19 caused the hotel severe cashflow problems but the owners recognised that a loan would provide them with some working capital and enable them to invest in some beneficial upgrades.

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“The CBILS loan, and indeed the enforced period of inactivity that the shutdown has brought, has allowed us to take our business to the next level,” said Mr O’Sullivan.

“We can now look forward to welcoming our customers back to see the changes we’ve made during this time.

“If we hadn’t have applied to CBILS for that financial support, there was a chance the business would have been put into administration.”

Newly published data shows that businesses across the North West have received more than £4.4bn in funding under the government’s two largest COVID-19 loan schemes, the CBILS and the Bounce Back Loan Scheme.

They both provide financial support to businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the pandemic.

Almost 4,700 loans worth more than £1.1bn have been offered across the North West under the CBILS, which provides business loans, overdrafts, invoice finance and asset finance of up to £5m to businesses with a turnover of less than £45m.

More than 112,000 loans worth more than £3.3bn have been offered across the region under the Bounce Bank Loans Scheme, which provides a six-year term loan from £2,000 up to 25 per cent of a business’ turnover, with a limit of £50,000.

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Small Business Minister Paul Scully said: “Throughout this crisis, we have backed business of all sizes in the North West, and in every corner of the UK.

“The schemes put in place by the government-owned British Business Bank have provided some much-needed breathing space for businesses as they deal with the challenges posed by coronavirus.

“Government support has helped firms right across the North West, not just in keeping businesses going but now enabling thousands to bounce back in a safe, COVID-secure manner.”

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